— Can specific areas of a photo be isolated and altered in color and brightness from the rest of the photo?

The ArcSoft PhotoImpression doesn't offer advanced customization and image manipulation. You will need a tool that features this tools. ArcSoft PhotoImpression will allow basic manipulation of your... images and it's targeted towards basic users.
The application I am talking about is called Adobe Photoshop and although it requires some knowledge, you can learn how to use it with the help of tutorials. Read more